
Volodymyr Groysman: Moody's upgrades Ukraine's rating and this is a recognition of success of the country's reforms
An international credit rating agency Moody's
Investors Service, which is among the top three
largest agencies in the world, has upgraded the
government of Ukraine's local and foreign currency issuer and senior unsecured
ratings to Caa2. Commenting on the said upgrade, Prime Minister of Ukraine Volodymyr Groysman stressed that
this is the evidence of success of the country’s structural reforms
«Among the
key factors of the credit rating change in the positive direction are the effect
of far-reaching reforms and strengthening of Ukraine's positions on the world
market. According to the forecasts of financial experts, the continuation of
pursuing sustained reforms will improve the debt dynamics of our state», the
Prime Minister claimed.
He stressed that there is a great deal of work ahead, inter alia in the
political stability sector, sustainability of economic transformations, the
strengthening of the exchange rate and the overall strengthening of the
economy. The success of reforms, in particular at the macro
level, will allow not only to restore and boost the economic growth, but also
to cope with the forecasted heavy debt payments
from 2019 onward, when Ukraine will have to repay the debts of previous periods.
«We are
proud that the international agency has recognized our achievements in the
field of transparency of the gas sector, public procurement, taxation, and the
banking sector. Moreover, we keep in mind that our partners are expecting the
implementation of reforms already announced by the Government, in particular,
retrofitting of the pension system, privatization, and land reform. We have
been and remain committed to a course of transformations for the future of the
state and improving the welfare of citizens», the Prime Minister underscored.